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Panama flagCost of Living Guide · Panama

Cost of Living Guide in Panama

Complete pricing for housing, food, transportation, and everyday expenses

Panama offers a low cost of living, 24.4% cheaper overall including rent than the North America average, making it one of the more affordable options in the region where the average CPI is 64.4. Consumer prices excluding rent are 29.3% lower than the regional average, while rent is 17.2% below North American benchmarks, ideal for expats and digital nomads seeking value. Its Quality of Life Index supports a comfortable lifestyle at a fraction of North American costs.

Estimated Monthly Budget

Frugal
$800-$1,200 for a single person living like a local (modest housing outside center $400-$800, local groceries, public transport, minimal utilities)
Comfortable
$1,500-$2,500 for a single expat (decent 1BR $800-$1,500, mix of local/imported food, occasional dining out, reliable internet/utilities)
Family of four
$3,500-$5,000+ for a family of four (3BR housing $1,500-$2,500, international school, imported groceries, car, healthcare)

Panama delivers excellent value for money, being 24.4% cheaper overall than the North America average with strong quality of life—perfect for expats stretching budgets further than in pricier regional spots.

Economic & Living Costs in Panama
Food & Dining Costs

Meal, Inexpensive Restaurant

5-20 $
Avg: 12.5 $
+25.0% vs 3 months ago

Meal for 2, Mid-range Restaurant (3-course)

35-85 $
Avg: 60 $
-11.1% vs 3 months ago

McMeal at McDonalds (or Equivalent Combo Meal)

7-8.5 $
Avg: 7.75 $
-1.0% vs 3 months ago

Domestic Beer (0.5L draught)

1-3.5 $
Avg: 2.25 $
+4.7% vs 3 months ago
Housing & Real Estate Costs

Apartment (1 bedroom) in City Centre

600-1870 $
Avg: 1235 $
+17.6% vs 3 months ago

Apartment (1 bedroom) Outside Centre

460-1500 $
Avg: 980 $
+22.5% vs 3 months ago

Apartment (3 bedrooms) in City Centre

1200-3000 $
Avg: 2100 $
0.0% vs 3 months ago

Apartment (3 bedrooms) Outside Centre

1000-2200 $
Avg: 1600 $
+10.3% vs 3 months ago
Transportation Costs

One-way Ticket (Local Transport)

0.35-1 $
Avg: 0.68 $
-35.7% vs 3 months ago

Chicken Fillets (1kg)

3.5-8.82 $
Avg: 6.16 $
-15.2% vs 3 months ago

Monthly Transport Pass

15-25 $
Avg: 20 $
-20.0% vs 3 months ago

Gasoline (1L)

0.86-1.32 $
Avg: 1.09 $
+7.2% vs 3 months ago
Utilities & Communications Costs

Utilities for 85m² Apartment

61-200 $
Avg: 130.5 $
-4.6% vs 3 months ago

Internet (60 Mbps+, Unlimited)

38-65 $
Avg: 51.5 $
-2.8% vs 3 months ago

Mobile Plan (10GB+ Data)

17-40 $
Avg: 28.5 $
+3.6% vs 3 months ago
Grocery Costs

Milk (1L)

1.45-2.01 $
Avg: 1.73 $
-2.6% vs 3 months ago

Loaf of Fresh White Bread (500g)

1.46-4 $
Avg: 2.73 $
+4.6% vs 3 months ago

Eggs (12)

2-3.6 $
Avg: 2.8 $
+19.1% vs 3 months ago

Local Cheese (1kg)

4-17.64 $
Avg: 10.82 $
-25.4% vs 3 months ago
Entertainment & Sports Costs

Fitness Club, Monthly Fee

29-100 $
Avg: 64.5 $
0.0% vs 3 months ago

Tennis Court (1 hour, weekend)

10-50 $
Avg: 30 $
-20.0% vs 3 months ago

Cinema Ticket

6-15 $
Avg: 10.5 $
0.0% vs 3 months ago

Preschool / Kindergarten (monthly, private)

400-650 $
Avg: 525 $
+10.5% vs 3 months ago
Last updated: 2026-04-03

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